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Asset Management

Asset Management

Asset Management is a process of planning and prioritising works on the City’s assets to ensure they continue to provide an agreed level of service to the community in the most cost effective and efficient manner.  In other words, the correct treatment is undertaken at the right time to ensure that the required level of service is provided to the community. It considers maintenance as well as asset replacement.  Importantly, it recognises that new assets require additional funding to that required for asset maintenance and replacement and that new assets increase the level of ongoing maintenance expenditure.

Infrastructure-Asset Management Plans are about providing a level of service from the City’s assets that the community expects and is prepared to pay for.  The purpose of the Plan is to predict asset consumption, renewal needs and to consider asset needs to meet future community service expectations.  

The Plan includes both the capital project programme of the Council for maintenance of existing assets, and the capital project on new assets for the next 20 years by class of asset and project. These capital project and maintenance programmes are critical to the Long-Term Financial Plan of Council.

Council’s major assets include its local road network, kerbs and gutters, footpaths, stormwater drainage network, buildings, parks, ovals and trees. 

The useful life of each asset has been considered and an estimate prepared for required intervention and expenditure each year to ensure the asset continues to provide ‘fit for purpose’ service to the community.

 

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